The price of gold rose Friday morning after analysts at Bank of America and Deutsche Bank made their estimates for prices in the coming year. This happens after the Federal Reserve announced a third round of quantitative easing and the Bank of Japan a few days ago announced that the bank would raise fund for bond purchases.
Gold is one of the commodities that have the greatest benefits of quantitative easing. Everyone is talking about that gold will reach level 2000 per ounce and more people think that the level will hit at least.
Because of this gold rose 0.26 percent to a level of at 1774.80 per ounce.
The price of oil also rises after a long period of decline, and announcements of increases in U.S. oil inventories. The increase in inventory was a consequence of both production and imports of oil has regained lost ground in the wake of Hurricane Isaac, and the sector is almost back at full capacity.
Investors now believe, however, that the sharp decline in oil prices has been far too exaggerated.
When you see an unexpectedly sharp drop, as we have seen, you will normally see a wave transitional effect of $ 10 from top to bottom, and then trades will come back. We should therefore see an increase of 30 to 50 percent in oil prices within a short period, assesses Phil Flynn, market analyst at Price Futures in Chicago.
WTI crude oil price is Friday morning at a rate of $ 93.15 per barrel after a rise of 0.79 percent. Brent oil rises also 0.44 percent and is thus at a level of $ 110.51 per barrel.
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